3M reported Q1 2024 earnings with better-than-expected EPS of $2.39, reduced revenue, and announced a dividend cut and CEO transition.
3M reported better-than-expected Q1 2024 earnings with adjusted EPS of $2.39, up from $1.97 in the previous year. However, revenue fell 0.3% year-over-year to $8.0 billion. The company plans to cut its dividend from 60% to 40% of its adjusted free cash flow after spinning off its health-care products division. New CEO William Bill Brown will take over from Mike Roman, who will become Executive Chairman.
April 30, 2024
7 Articles